Laredo Petroleum (LPI) Raised to Equal Weight at Capital One Financial

Capital One Financial upgraded shares of Laredo Petroleum (NYSE:LPI) from an underweight rating to an equal weight rating in a research report released on Thursday, BenzingaRatingsTable reports. They currently have $7.00 target price on the oil and gas producer’s stock.

Several other analysts also recently weighed in on the company. Zacks Investment Research downgraded Laredo Petroleum from a buy rating to a hold rating in a report on Wednesday, May 22nd. Williams Capital upgraded Laredo Petroleum from a hold rating to a buy rating and lifted their price objective for the company from $4.00 to $5.50 in a report on Thursday, May 16th. Robert W. Baird upgraded Laredo Petroleum from a neutral rating to an outperform rating and lifted their price objective for the company from $3.00 to $7.00 in a report on Thursday, May 9th. MKM Partners restated a neutral rating and issued a $3.00 price objective (down from $5.00) on shares of Laredo Petroleum in a report on Friday, February 15th. Finally, Societe Generale downgraded Laredo Petroleum from a buy rating to a hold rating in a report on Friday, February 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Laredo Petroleum presently has a consensus rating of Hold and an average target price of $7.03.

LPI stock opened at $3.01 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $712.02 million, a P/E ratio of 3.24 and a beta of 1.45. Laredo Petroleum has a 1-year low of $2.80 and a 1-year high of $10.43.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. The firm had revenue of $208.95 million during the quarter, compared to the consensus estimate of $198.64 million. Laredo Petroleum had a return on equity of 17.30% and a net margin of 21.68%. The firm’s quarterly revenue was down 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 earnings per share. On average, sell-side analysts anticipate that Laredo Petroleum will post 0.73 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of LPI. Bank of New York Mellon Corp grew its stake in Laredo Petroleum by 61.6% in the third quarter. Bank of New York Mellon Corp now owns 2,065,690 shares of the oil and gas producer’s stock valued at $16,876,000 after purchasing an additional 787,213 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Laredo Petroleum by 63.3% in the third quarter. JPMorgan Chase & Co. now owns 176,255 shares of the oil and gas producer’s stock valued at $1,440,000 after purchasing an additional 68,307 shares during the last quarter. Morgan Stanley grew its stake in Laredo Petroleum by 16.1% in the third quarter. Morgan Stanley now owns 853,060 shares of the oil and gas producer’s stock valued at $6,969,000 after purchasing an additional 118,259 shares during the last quarter. Teachers Advisors LLC grew its stake in Laredo Petroleum by 2.0% in the third quarter. Teachers Advisors LLC now owns 316,298 shares of the oil and gas producer’s stock valued at $2,584,000 after purchasing an additional 6,194 shares during the last quarter. Finally, Nisa Investment Advisors LLC purchased a new position in Laredo Petroleum in the fourth quarter valued at about $216,000.

About Laredo Petroleum

Laredo Petroleum, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. The company also provides midstream and marketing services comprising transportation and marketing of oil and natural gas; and natural gas lift systems, crude oil and natural gas gathering, and water delivery and takeaway services.

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Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

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